Bangladesh likely to become a trillion-dollar economy by 2040: BCG

The country’s domestic consumer market, which is about to become the ninth-largest consumer market in the world, is the key driver of making the country a front runner in economic growth, according to a BCG report named ‘The Trillion-Dollar Prize: Local Champions Leading the Way.’

Bangladesh’s rapidly expanding middle- and-affluent class is estimated to grow from approximately 19 million in 2020 to around 34 million by 2025. It is supported by a young workforce of around 114 million people, a rapidly growing gig economy with approximately 650,000 freelancers, which is the second largest workforce globally, and a growing digital adoption rate with around 177 million mobile subscribers.

The innovative companies of Bangladesh that have grown rapidly and are ready to pursue global ambitions have delivered average shareholder returns of approximately 16 per cent and demonstrated characteristics of sustainable future growth. These companies can be key contributors to realising Bangladesh’s trillion-dollar ambition, according to data from BCG’s study by Zarif Munir, Saibal Chakraborty, Tausif Ishtiaque.

The leading companies of Bangladesh, with well-structured strategic programmes, are leveraging the growing digital landscape to boost innovation and productivity.

ALCHEMPro News Desk (DP)